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Mortgage Refinance Calculator

You could save $73,753 in just 2 hours through refinancing^


Change the information below to see how much you could save

Loan details

Your repayment type:  
Your current loan balance: $
Your current monthly repayments: $
Your current interest rate:    %
Your current exit fees: $  
 
     


Reduce interest – (Save interest and time)

Lender Interest Rate Monthly loan repayments Total interest paid over loan term
MyRate 5.03% $1,890 $194,606
Big Banks^ 5.78% $1,890 $268,859

Your total savings^

$73,753

How much sooner will your loan be paid off?

3 years 4 months




Reduce monthly repayments – (Improve cash flow)

Lender Interest Rate Monthly loan repayments
MyRate 5.03% $1,759
Big Banks^ 5.78% $1,890

Monthly repayment saving^

$131



Refinancing with MyRate:

Your MyRate consultant will handle the refinance from start to finish and communicate with your current lender, saving you the hassle!


^ It takes approximately 2 hours to complete your loan application and gather your supporting documents with MyRate. Your total savings are based on a calculated loan term of 25 years 1 month with your current lender vs. 21 years 10 months with MyRate plus any additional exit costs from your current lender. Monthly repayment saving is for a MyRate loan of 25 years. Note that taking advantage of the repayment savings will extend your loan term and will therefore mean that you will pay more in total interest over the life of the loan (assuming that you would pay off your existing loan in less than 25 years). Big banks' interest rate is based on advertised standard variable rate. The numbers shown are an estimate only. Other lender and/or government fees and charges may apply.
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Lender  Rate 
(p.a.)
CCR#
(p.a.)
Fees
myrate 5.03% 5.03% $0*
Commonwealth 5.74% 5.87% $700
Westpac 5.81% 5.94% $600
St. George 5.79% 5.95% $700